The Charlotte Hornets are getting cash from the Cleveland Cavaliers, in returning for acquiring, and then waiving, injured big man Chris Anderson.
This deal lowers the Cavaliers’ luxury-tax bill and opens a Cleveland roster spot. It has no tangible impact on the Hornets’ roster.
Anderson, 38, is out for the season with a knee injury. He makes about $1.5 million this season. The Hornets took his salary on their cap to decrease the Cavaliers’ luxury-tax bill. The Cavaliers have an NBA-high payroll this season of about $129 million.
To comply with NBA trade rules, the Hornets would send a highly-protected 2017 second-round pick to the Cavaliers. But the Hornets (24-30) would have to finish with one of the NBA’s top five records to lose that pick. There are currently 15 NBA teams with better records than the Hornets.
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Cavaliers superstar LeBron James has been lobbying for his team to add another playmaker, as they try to win a second consecutive championship. This trade opens a roster spot.
The Hornets waived Anderson Monday afternoon, then signed center Mike Tobey to a second 10-day contract.